February 28 – North Hollywood shootout: Two robbers wearing kevlar body armor armed with AK-47s containing armor-piercing bullets injure 17 police officers and civilians in a gun battle. The incident sparks debate on the appropriate firepower for United States patrol officers to have available in similar situations in the future.

A 126-day hostage crisis at the residence of the Japanese ambassador in Lima, Peru, ends after government commandos storm and capture the building, rescuing 71 hostages. One hostage dies of a heart attack, 2 soldiers are killed by rebel fire, and all 14 Túpac Amaru rebels are slain.

June 10 – Khmer Rouge leader Pol Pot orders the killing of his defense chief, Son Sen, and 11 of Sen's family members, before Pol Pot flees his northern stronghold (the news does not reach outside Cambodia for 3 days).

August 3–11 – Two of the three islands of the Union of the Comoros – Anjouan and Mohéli – attempt to succeed to revert to colonial rule by France. It fails when the French government of President Jacques Chirac refuses to recolonize them resulting in the two islands being reintegrated into the Comoros over the next two years.

September 13 – Iraq disarmament crisis: An Iraqi military officer attacks an UNSCOM weapons inspector on board an UNSCOM helicopter, while the inspector attempts to take photographs of unauthorized movement of Iraqi vehicles inside a site designated for inspection.

September 25 – Iraq disarmament crisis: UNSCOM inspector Dr. Diane Seaman catches several Iraqi men sneaking out the back door of an inspection site, with log books for the creation of prohibited bacteria and chemicals.

October 27 – In the U.S., the Dow Jones Industrial Average drops 554.26 points (−7.18%), closing at 7,161.14.

October 28 – In the U.S., the Dow Jones Industrial Average gains a record 337.17 points (+4.71%), closing at 7,498.32. One billion shares are traded on the New York Stock Exchange for the first time ever.

October 29 – Iraq disarmament crisis: Iraq says it will begin shooting down Lockheed U-2 surveillance planes being used by UNSCOM inspectors.

December 3 – In Ottawa, Ontario, Canada, representatives from 121 countries sign a treaty prohibiting the manufacture and deployment of anti-personnel land mines. However, the United States, the People's Republic of China, Russia, South Korea and 32 other nations do not sign and/or ratify the treaty.